Avance Gas Holding Signed Sustainability for the Two First Dual Fuel Buildings

Source: www.gulfoilandgas.com 7/7/2021, Location: South America

Avance Gas Holding Ltd is pleased to announce the successful signing and completion of the $104 million sustainability-linked term facility with a bank syndicate previously announced in May 2021. The transaction will secure financing of the two first dual fuel newbuildings, Avance Polaris and Avance Capella, scheduled for delivery in Q4 2021 and Q1 2022. The facility has a maturity at the earlier of five years from delivery of the second newbuilding and June 2027. The financing is expected to be drawn upon delivery of the vessels from the shipyard.

The facility has an annual sustainability margin adjustment mechanism linked to the Company’s ambition to reduce and outperform the carbon intensity targets set in the Poseidon Principles. The dual fuel newbuildings will significantly lower our carbon footprint and the sustainability-linked financing further demonstrates our commitment to de-carbonisation of the shipping industry with support from the bank syndicate in this facility.


United States >>  7/1/2022 - Tennessee Gas Pipeline Company, L.L.C. (TGP), a subsidiary of Kinder Morgan, Inc. received approval for its producer certified gas (PCG), or responsib...
Spain >>  6/30/2022 - The Prime Minister of Albania, Edi Rama, the Vice-President and Minister for Ecological Transition and the Demographic Challenge, Teresa Ribera, and t...

United States >>  6/30/2022 - Ocean Yield AS (“Ocean Yield” or the “Company”) has agreed to purchase two 36,000 cbm liquified ethylene gas carrier (LEG) newbuildings, to be constru...
United States >>  6/29/2022 - - At a ceremony in Houston, Texas, yesterday, the ‘Pacific INEOS Grenadier’ was named in honour of INEOS’ Grenadier 4X4 that is soon to launch in Amer...

China >>  6/28/2022 - Kalmar, part of Cargotec, has received an order for three Kalmar Eco Reachstackers from Yantai Port in China. These are the first Eco reachstackers to...
China >>  6/21/2022 - Allison Transmission, a leading designer and manufacturer of conventional and electrified vehicle propulsion solutions and the largest global manufact...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.